[vc_row][vc_column][vc_column_text]Our experienced consultants will be happy to assist you with securing your mortgage whether you are buying a residential property or a business.[/vc_column_text][vc_custom_heading text=”Residential mortgage” font_container=”tag:h3|text_align:left|color:%23d30b0e” use_theme_fonts=”yes”][vc_column_text]On average, to obtain a mortgage for a residential property might take between 8 and 12 weeks. You might need to provide:

• Proof of your UK residential address, such as utility bills and bank statements with your name and address on them
• Proof of earning capacity. This could be P60 forms, your last three months’ payslips, bank statements of your current account for the last three to six months, statements from your savings accounts, statement of two to three years’ accounts from an accountant if self-employed, tax return form SA302
• Proof of identity and age, such as a passport and/or a driving licence
• You need to know how much your everyday expenses are and how much of your income remains after all the bills have been paid
• You need to disclose any loan agreements you have and how much your monthly payments are
• If you receive income from letting properties, you will need to give the properties’ addresses and state income you receive from letting

*It is important to know that some lenders are unwilling to provide mortgage unless you have an Indefinite Leave to Remain or a Permanent Residence Card. Please contact us for more information and assistance.[/vc_column_text][vc_custom_heading text=”Commercial mortgage for business purchase” font_container=”tag:h3|text_align:left|color:%23d30b0e” use_theme_fonts=”yes”][vc_column_text]If you are buying a business asset, for example, a hotel, the process of securing a mortgage offer will not happen as quickly as it does in the residential market. The lender will likely to request a lot of information beforehand to be able to assess the proposal and work out the most appropriate lending source.

The following information might be required based on the example of purchasing a hotel:

• Full details of the hotel being purchased and where it is situated
• Full financial background to the hotel being purchased including copies of the financial accounts covering the last 3 years
• Confirmation of the purchasing structure, i.e. Limited Company, LLP, offshore company and who will own this vehicle
• Full background and disclosure around the person that is purchasing the business. This needs to include details of the purchaser’s UK and international assets in the form of an asset and liability statement
• An understanding about what experience the purchaser has in running hotel businesses
• Confirmation of ID
• Details of the source of the purchaser’s deposit towards the purchase

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